Washington Babylon — May 15, 2007, 6:55 pm

Donor Scorecard: Tom Loeffler

Senator John McCain raised a paltry, humiliating $13 million during the first quarter of this year—placing him far behind Mitt Romney and Rudy Giuliani in the race to buy the presidency. So what’s a campaign-finance-reformer to do? Flip-flop. McCain is now counting on intensified support from big contributors to George W. Bush’s two presidential campaigns, many of whom he railed against during his heady period as a campaign finance reformer in years gone by.

Sixty former Bush Rangers or Pioneers raised money for McCain during the first quarter (versus about thirty each for Romney and Giuliani), and last month he appointed one of them, Tom Loeffler, to take over his fundraising operation.

Loeffler is a former member of Congress from Texas who retired in 1986. According to a 1984 study by Public Citizen, he compiled the worst record of any member on consumer issues, and also made news as the top recipient of illegal contributions from Vernon Savings & Loan, which went belly-up at a cost to taxpayers of $1.3 billion. But Loeffler’s finest moment during his years on the Hill came during a mid-1980s trip to San Francisco, when he reportedly called the front desk at his hotel and asked to have extra shower caps brought up to wear on his feet, in order to protect against the AIDS virus.

After retiring, Loeffler became a lobbyist and soon was embroiled in several scandals that marked Bush’s Texas gubernatorial tenure. One came after Bush appointed him to the University of Texas System Board of Regents, where he give the startup firm Introgen Therapeutics the exclusive right to license a gene cancer therapy that had been developed at the university. Several years later, the drug firm named Loeffler to its board and gave him 10,000 shares of stock. Introgen is a current lobbying client for The Loeffler Group, as is Toyota, Qualcomm, the Pharmaceutical Research and Manufacturers of America, and Saudi Arabia. Overall, the firm took in $4.6 million in lobbying fees last year.

Loeffler should be of great help to McCain in drumming up campaign money. He’s previously held top fundraising posts for presidential campaigns mounted by former Texas senator Phil Gramm and Bob Dole, and in 2004 was co-chairman of the Republican National Committee’s Team 100 as well as a Bush Super-Ranger, a title given to those who raised more than $300,000.

A recent Houston Chronicle story says Loeffler has decided to use the Bush money model for McCain, “setting dollar targets for the bundlers and creating a McCain 100 and McCain 200 team for those who raised $100,000 and $200,00, respectively.” Other big Bush donors now in McCain’s camp include James B. Lee, Jr., vice chairman of JP Morgan Chase; Donald Bren, chairman of the board of directors of The Irvine Company and the 104th richest person in the world according to Forbes; and A. Jerrold Perenchio, the controlling shareholder of Univision Communications. The latter is a major donor to tax-exempt 527 groups that flourish because they exploit loopholes in the McCain-Feingold campaign finance reform bill. In 2005,
according to the Washington Post, McCain “went to court to try to curtail the influence of a group to which [Perenchio] gave $9 million, saying it was trying to ‘evade and violate’ new campaign laws with voter ads ahead of the midterm elections.”

Things change. “Over the years, I have become close friends with each of these distinguished men,” McCain said last December when announcing that Loeffler, Lee, and so on would become major fundraisers for his campaign. “I am honored to have their support as we move forward. Their dedication to the Republican Party and their renowned financial savvy are essential to any successful campaign, and I am so grateful that they have chosen to bring their talents and wisdom to our team.”

It definitely seems that McCain has inherited the Bush donor machine–but his continued support for Bush’s unpopular failure in Iraq will complicate his effort to win the presidency no matter how much money he raises.

Share
Single Page

More from Ken Silverstein:

From the November 2013 issue

Dirty South

The foul legacy of Louisiana oil

Perspective October 23, 2013, 8:00 am

On Brining and Dining

How pro-oil Louisiana politicians have shaped American environmental policy

Postcard October 16, 2013, 8:00 am

The Most Cajun Place on Earth

A trip to one of the properties at issue in Louisiana’s oil-pollution lawsuits 

Get access to 164 years of
Harper’s for only $39.99

United States Canada

CATEGORIES

THE CURRENT ISSUE

August 2014

The End of Retirement

= Subscribers only.
Sign in here.
Subscribe here.

The Octopus and Its Grandchildren

= Subscribers only.
Sign in here.
Subscribe here.

Francis and the Nuns

= Subscribers only.
Sign in here.
Subscribe here.

Return of the Strongman

= Subscribers only.
Sign in here.
Subscribe here.

view Table Content

FEATURED ON HARPERS.ORG

Article
The End of Retirement·

= Subscribers only.
Sign in here.
Subscribe here.

“For those riding the economy’s outermost edge, adaptation may now mean giving up what full-time RV dwellers call ‘stick houses’ to hit the road and seek work.”
Photograph (detail) © Max Whittaker
Post
The Many Faces of Boko·

= Subscribers only.
Sign in here.
Subscribe here.

“People want education. Open a school and they will rush.”
Photograph © The author
Article
The Octopus and Its Grandchildren·

= Subscribers only.
Sign in here.
Subscribe here.

On Stanford University’s origins and vision
“The pervasive fantasy that Silicon Valley doesn’t need the government obscures the role of that government in funding much of the research that built it.”
Photograph © Sallie Dean Shatz
Post
God Lives on Lemon Street·

= Subscribers only.
Sign in here.
Subscribe here.

“Bethel was Oz-like for me. I mean that with all the awe, utter hopefulness, and mythic fear with which Dorothy and her friends had approached that magical city.”
Photograph (detail) ©© Clemens v. Vogelson (Flickr)
Article
Francis and the Nuns·

= Subscribers only.
Sign in here.
Subscribe here.

“A year and a half into his papacy, Pope Francis is looking an awful lot like his predecessors.”
Photograph (detail) © Dan Kitwood / Getty Images

Ratio of the top weekly fee paid a Munchkin in 1939′s The Wizard of Oz to the weekly fee paid for Toto:

4:5

Czech and German deer still do not cross the Iron Curtain.

The Japanese artist Rokudenashiko was arrested for distributing 3D-printer schematics of her vagina in exchange for donations intended for the construction of a kayak.

Subscribe to the Weekly Review newsletter. Don’t worry, we won’t sell your email address!

HARPER’S FINEST

In Praise of Idleness

By

I hope that after reading the following pages the leaders of the Y. M. C. A. will start a campaign to induce good young men to do nothing. If so, I shall not have lived in vain.

Subscribe Today